What Happened?
Shares of ride sharing and on-demand delivery platform Uber (NYSE: UBER) jumped 3.9% in the morning session after an analyst at Piper Sandler raised their price target on the stock to $103 from $95.
The investment firm maintained its Overweight rating on the shares, signaling confidence in the company's growth trajectory. Adding to the bullish sentiment, Uber also expanded its global partnership with Mastercard to enhance payment experiences for its drivers, couriers, and customers. The agreement involved leveraging several of Mastercard's payment products and services to support Uber's business operations. This positive news followed recent commentary on the rapid growth of Uber's high-margin advertising segment, which management previously announced had surpassed a $1.5 billion annual revenue run rate.
After the initial pop the shares cooled down to $91.46, up 1.7% from previous close.
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What Is The Market Telling Us
Uber’s shares are quite volatile and have had 19 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 17 days ago when the stock gained 3.3% on the news that Wells Fargo analyst raised the price target on the company's stock. Wells Fargo analyst Ken Gawrelski reiterated an "Overweight" rating on Uber and increased the price target to $120 from $100, suggesting a potential 24.86% upside from the previous closing price. This bullish outlook from a major financial institution signals confidence in Uber's growth prospects and market expansion potential. The move reflects growing optimism on Wall Street, where the majority of analysts covering the stock maintain a "buy" or equivalent rating.
Uber is up 44.8% since the beginning of the year, and at $91.46 per share, it is trading close to its 52-week high of $97.48 from July 2025. Investors who bought $1,000 worth of Uber’s shares 5 years ago would now be looking at an investment worth $2,933.
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